The Reserve Bank of India has today notified that the foreign share holdings through Foreign Institutional Investors (FIIs)/ Non Resident Indians (NRIs)/Persons of Indian Origin (PIOs)/Foreign Direct Investment (FDI)/American Depository Receipts (ADRs)/Global Depository Receipts(GDRs) in M/s Axis Bank Ltd. have gone below the threshold limit stipulated under the extant FDI Policy. Hence, the restrictions placed on the purchase of shares of the above company are withdr

The Reserve Bank of India has been receiving requests from banks to consider a special concessional window for swapping foreign currency non-resident (banks) {FCNR(B)} deposits that will be mobilised as per the recent relaxations permitted by the Reserve Bank of India. It has been decided accordingly to offer such a window to the banks to swap the fresh FCNR (B) dollar funds, mobilised for a minimum tenor of three years and over at a fixed rate of 3.5 per cent per ann

The Reserve Bank of India’s Reference Rate for the US dollar is `67.0289 and the Reference Rate for Euro is `88.2374 on September 4, 2013. The corresponding rates for the previous day (September 3, 2013) were `66.8875 and `88.0950 respectively. Based on the Reference Rate for the US dollar and the middle rates of the cross-currency quotes, the exchange rates of GBP and JPY against the Rupee are given below: Currency Date September 3, 2013 September 4, 2013 1 GBP 103.9

The Reserve Bank of India has today issued certain clarifications with respect to the applicability of the revised guidelines in respect of overseas direct investment notified on August 14, 2013 to facilitate genuine outward investment requirements of the Indian companies. The clarifications/answers to the queries raised by different stakeholders are contained in its AP (Dir) Circular No. 30 dated September 04, 2013. Among others, it has been clarified that in respect

The Reserve Bank of India’s Reference Rate for the US dollar is `66.8875 and the Reference Rate for Euro is `88.0950 on September 3, 2013. The corresponding rates for the previous day (September 2, 2013) were `65.8608 and `87.0575 respectively. Based on the Reference Rate for the US dollar and the middle rates of the cross-currency quotes, the exchange rates of GBP and JPY against the Rupee are given below: Currency Date September 2, 2013 September 3, 2013 1 GBP 102.5

The Reserve Bank of India today released the data showing daily merchant and inter-bank transactions in foreign exchange for the period August 05, 2013 to August 09, 2013. All Figures are in USD Millions Position Date MERCHANT INTER BANK FCY / INR FCY / FCY FCY / INR FCY / FCY Spot Forward Forward Cancel Spot Forward Forward Cancel Spot Swap Forward Spot Swap Forward Purchase 05-08-2013 2,128 1,117 434 336 166 126 6,166 4,431 428 3,359 1,778 128 06-08-2013 2,400 1,798

The Reserve Bank of India has today released the data on External Commercial Borrowings (ECB) and Foreign Currency Convertible Bonds (FCCB), both through Automatic Route and Approval Route, for the month of July 2013. Ajit Prasad Assistant General Manager Press Release : 2013-2014/473

The Reserve Bank of India today notified that M/s. Kotak Mahindra Bank Limited has passed resolutions at its Board of Directors' Meeting and a resolution in its Annual General Meeting agreeing for the purchase of its equity shares by Foreign institutional Investors (FIIs) up to 37% of their paid-up capital through primary/secondary markets in India. Reserve Bank's approval to the Kotak Mahindra Bank Ltd. for raising FII investment limit to 37% is subject to the condit

The Reserve Bank of India today notified that M/s. Tech Mahindra Limited has passed resolutions at the Board of Directors' level and a special resolution by the shareholders, agreeing to enhancing the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs), through primary market and stock exchanges up to 35% of the paid up capital of the company under Portfolio Investment Scheme. Ajit Prasad Assistant General M

The Reserve Bank of India’s Reference Rate for the US dollar is `65.8608 and the Reference Rate for Euro is `87.0575 on September 2, 2013. The corresponding rates for the previous day (August 30, 2013) were `66.5742 and ` 88.1605 respectively. Based on the Reference Rate for the US dollar and the middle rates of the cross-currency quotes, the exchange rates of GBP and JPY against the Rupee are given below: Currency Date August 30, 2013 September 2, 2013 1 GBP 103.3431